Saturday, 18 June 2016

Stocks mixed but down for week

Stocks ended a rocky week on a mixed note on Friday.

The S&P 500 fell 0.3 percent to end the week down 1.2 percent.

The STOXX Europe 600 jumped 1.4 percent but still finished the week down 2.1 percent.

The Nikkei 225 rose 1.1 percent but ended the week 6 percent lower, its worst weekly performance since February.

“At this point, people are going to stay where they are,” said Ryan Kelley, a portfolio manager at Hennessy Funds.

“The last thing investors are willing to do is stick out their neck on geopolitical risks in a market they already feel is a bit long in the tooth,” said David Lafferty, chief market strategist at Natixis Global Asset Management.

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